NextEra Energy Issues Statement On Anti-circumvention Investigation; Confirms Long-term Outlook

(RTTNews) - NextEra Energy, Inc. (NEE) CEO and NextEra Energy Partners, LP (NEP) CEO John Ketchum issued a statement regarding decision by the U.S. Department of Commerce to initiate an anti-circumvention investigation into the importation of solar panels from select Asian countries. Some of NextEra Energy's solar and storage projects may be adversely impacted by the disruption this decision is expected to cause, he said.

"We are disappointed with the Commerce Department's decision to grant Auxin's request to investigate as we believe it has no merit. However, we are optimistic that the investigation will be resolved favorably and that no additional Antidumping and Countervailing Duties tariffs will be put in place," said John Ketchum.

NextEra Energy's long-term financial expectations remain unchanged. For 2022, NextEra Energy's adjusted earnings per share guidance continues to be in the range of $2.75 to $2.85. For 2023 through 2025, NextEra Energy expects to grow roughly 6% to 8% per year off the expected 2022 adjusted earnings per share. For 2023 through 2025, this translates to adjusted earnings per share ranges for NextEra Energy of $2.93 to $3.08, $3.13 to $3.33, and $3.35 to $3.60, respectively.

From a base of fourth-quarter 2021 distribution per common unit at an annualized rate of $2.83 per common unit, NextEra Energy Partners continues to expect 12% to 15% per year growth in limited partner distributions as being a reasonable range of expectations through at least 2024.